Swiss Firm to Build Apartment Hotels in Israel at $10, 000, 000 Cost

January 31, 1963

TEL AVIV (Jan. 30)

Four apartment hotels are to be built in Israel by a Swiss firm at a total cost of $10, 000, 000, it was reported here today. The firm, Ring Hotel Finanz, A. G. of Basel, expects to begin construction on the first of the hotels within six months with completion scheduled for the end of next year. The four hotels will be located in Tel Aviv, Herzliah, Haifa and Jerusalem.